The CBN’s New AML Rules Are a Wake-Up Call for Financial Institutions

 By Bolaji Jimoh, Fraud & Compliance Manager, Dojah

 

The Central Bank of Nigeria's new AML requirements are forcing financial institutions to rethink how they manage compliance, fraud monitoring, and customer risk.

With implementation deadlines now in motion, banks, fintechs, and payment companies are under increasing pressure to move away from manual AML processes and adopt automated systems capable of monitoring transactions, screening customers, and identifying suspicious activity in real time.

For many institutions, the challenge is not understanding the new requirements.

The challenge is being ready for them.

At Dojah, we are seeing growing demand from financial institutions looking to strengthen transaction monitoring, AML screening, sanctions checks, and customer risk management ahead of the June 2026 deadline.

The reason is simple.

Many institutions still rely on a combination of manual reviews, disconnected systems, and onboarding-focused compliance processes. While these approaches may have worked in the past, they are becoming increasingly difficult to maintain as transaction volumes grow and regulatory expectations evolve.

The CBN's latest directive reflects a broader shift happening across financial services.

Compliance is no longer just about verifying customers during onboarding. Institutions are increasingly expected to maintain visibility into customer risk throughout the entire customer lifecycle, monitor transactions continuously, and respond quickly when suspicious activity is detected.

This is where many organisations are now reassessing their existing compliance infrastructure.

Some are looking to automate sanctions and watchlist screening. Others are focused on improving transaction monitoring or strengthening customer risk assessment processes. Across the board, the common challenge is building systems that can provide compliance teams with better visibility and faster response times.

To support this shift, Dojah provides solutions including identity verification, business verification, AML watchlist screening, transaction monitoring, and Profiled Risk, a customer risk intelligence solution that helps compliance teams maintain a clearer view of customer activity and emerging risk patterns over time.

Rather than relying solely on static onboarding checks, institutions are increasingly looking for ways to continuously assess risk and identify potential issues before they escalate.

The organisations that adapt early will likely be better positioned not only from a compliance perspective, but also from a fraud prevention and operational resilience standpoint.

With the June 10 roadmap deadline approaching, financial institutions are running out of time to evaluate whether their current AML processes can support the level of monitoring and visibility regulators now expect.

The conversation is no longer about whether AML operations should be automated.

The conversation is about how quickly institutions can get there.

Financial institutions looking to strengthen AML operations can learn more about Profiled Risk and Dojah's AML solutions at profiledrisk.com and dojah.io/aml-watchlist.

 

About Dojah

Dojah is a fraud and risk infrastructure company helping businesses across Africa strengthen identity verification, business verification, fraud detection, transaction monitoring, and customer risk operations through connected trust and compliance systems.